June 6 (Reuters) - The S&P 500 hit a 7-month intraday high
on Monday as investors digested comments from Federal Reserve
Chair Janet Yellen, who painted a mostly upbeat picture of the
economy but gave little sense of when a rate hike may be coming.

Gains in oil and energy shares also boosted the market. The
S&P energy index was up 1.9 percent.

Yellen's remarks, likely her last public comments before a
policy meeting next week, follow Friday's dismal monthly jobs
report, which raised concerns over the ability of the economy to
absorb a rate hike as early as June.

"I think she's still committed to rate hikes, but she is
emphasizing there's not a timetable. She didn't say 'in the next
few months,' which is dovish," said Bucky Hellwig, senior vice
president at BB&T Wealth Management in Birmingham, Alabama.

At 3:06 p.m., the Dow Jones industrial average was up
131.35 points, or 0.74 percent, to 17,938.41, the S&P 500
had gained 12.55 points, or 0.6 percent, to 2,111.68 and the
Nasdaq Composite had added 32.74 points, or 0.66
percent, to 4,975.25.
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